The uptick of VVUS is more likley related to First Manhattan's attempt to sieze control of the BOD. First Manhattan continues to posit that VVUS has huge potential that is being undercut by present management.
As for ARNA - we have a plus (DEA scheduling and imminent sales) counterblanced by a minus (temporary pullout from EU). I don't consider the latter a huge deal, as the company has already declared it will resubmit to EU at some future date. Market for ARNA the last few days seems reasonable, all things considered.
The 'ace in the hole' all along has been the commitment of ESAI to ARNA. They have put way too many dollars behind ARNA for the Belviq launch to be likely to fail (if it DID fail, it would hurt ESAI as much as ARNA). I expect ups and downs in the PPS until we see how sales progress for the first few months. Assuming (as I am) that ESAI has been VERY busy over the last months, I expect solid sales numbers to drive a growing PPS in very short order.
All IMHO
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